On May 21, GLOBALFOUNDRIES rose 5.1% in after-hours trading, trading at $85.49/share, with trading volume of $17.19 million.
On the news front, the U.S. Commerce Department announced it will provide GLOBALFOUNDRIES with up to $375 million in funding to support the development and deployment of quantum technology solutions. The grant is part of a broader $2 billion allocation by the Trump administration to nine quantum computing companies, with the government taking equity stakes in these firms as part of a strategy to secure domestic supply chains in critical frontier technologies. IBM received $1 billion of the total package. Participating companies saw their share prices rise between 7% and 21% in pre-market trading.
Additionally, the company recently launched its SCALE optical module solution, a silicon photonics co-packaged advanced optical engine platform — the first compatible with OCI MSA protocol — designed to enhance interconnect efficiency in AI data centers. The combination of significant government funding, new product catalysts, and continued momentum from a broad semiconductor sector rebound collectively drove the after-hours advance.
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